Alabama Mortgage Licensing

Alabama Mortgage Licensing

Alabama eliminated their requirement for a physical office for mortgage broker licensees on 8/21/09. If you apply for the banker/lender license, which they call the consumer credit license or “mini-code” license, you will have to show proof of a warehouse line of credit. If you are a mortgage broker, you’re better off applying for the mortgage broker license versus trying to get a warehouse line of credit that you will never use, especially since a physical office is no longer required.

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Disclosure

Information herein is for educational purpose only and is not meant to be a complete statement of all state mortgage licensing requirements. Additional State and FHA mortgage licensing requirements may be required. If you need further information, we would encourage you to contact us directly.